Media Releases

Hutt Valley Businesses Maintain Confidence - Sept 2018

Thursday, September 20, 2018

A recent quarterly survey of primarily Hutt Valley businesses indicates continued confidence in their own business situation but have increased concerns as to New Zealand’s general business situation.

The latest Hutt Valley Chamber of Commerce Business Confidence Survey, sponsored by Red Hot Business Coaching, shows the following results:

  • A net 8% of respondents expect the business situation in New Zealand to decline over the next 6 months compared to a net 1% improvement in the previous quarter survey.
  • A net 38% of business respondents on the other hand stated they expected their own business situation to improve over the next 12 months which is a slight decline on the net 50% in the previous quarter survey.
  • Respondents views on the four most prevalent factors influencing their confidence are;
  • General uncertainty around the impact of current Government policies
  • Labour shortages/finding the right staff
  • Concern around future industrial relations changes
  • Current quality of Government expenditure
  • Business expectations for hiring full-time staff have improved with hiring’s in the last 3 months showing a net increase of 15% compared to projected hiring’s of a net 19% in the next three month period. Part-time staff hiring intentions indicate similar levels of increase to the full time staff hirings. 61% of respondents indicated an intention to hire or employ staff in the next 12 month and 52% indicated that they are finding it harder to find skilled/specialist staff than was the case 12 months ago.

 President and Acting Chief Executive of the Hutt Valley Chamber of Commerce, Neville Hyde said;

“This quarter’s business confidence survey of predominantly Hutt Valley business shows a decline in confidence in the general business situation in New Zealand with a net 8% of respondents expecting a deterioration. On the other hand individual businesses confidence in their own business performance remains buoyant with a net 38% expecting improvement in their own business situation. Investment intentions by businesses in their business or on business equipment remains positive with a net 18% of businesses expecting to invest in the next 12 months. Businesses are also indicating a strong intention to hire staff but remain concerned with the ongoing difficulty in securing skilled staff and this may be an inhibiter in achieving their growth strategies

Surveyed feedback on the expectation by businesses that the Government’s recently announced establishment of a Business Advisory Council would assist in improving general business confidence did not indicate a high level of confidence.

Hutt Valley Businesses confidence in their own business activities remains encouraging and the Chamber looks forward to celebrating success of many of these businesses at the Wellington Region Business Excellence Awards Event to be held on 30 November 2018 at the new Lower Hutt Events Centre” 

 

ENDS

For more information contact Neville Hyde 04 9399821